In the Mühlviertel

12.5 million euros in losses: real estate company goes bust

The Consento Vision Park in Wartberg ob der Aist.(Bild: zVg)

The company that wanted to realize the project was founded in 2016, the green light was given by the authorities in 2017 and construction work started in 2018 - but now it is unclear what will happen with the Consento Vision Park in Wartberg ob der Aist (Upper Austria). The reason: the real estate company behind the commercial business center is insolvent.

"We create space for your success" is the motto used to promote the Consento Vision Park in Wartberg ob der Aist. The project is touted as an innovative building complex that sets new standards in terms of facilities and entrepreneurial collaboration, with over 3,700 square meters of office and retail space.

Redevelopment plan currently envisages a 20 percent rate
What will happen next with Consento Vision Park? That is now also in the hands of liquidator Wolfgang Kempf. This is because restructuring proceedings were opened on Tuesday for the assets of RealSeven GmbH, the real estate company behind the building. The Austrian Creditreform association reports liabilities amounting to 12.5 million euros. The creditors are to be offered a quota of 20 percent.

How did the economic problems come about? According to Creditreform, the project has been at a standstill since 2022. The reason is differences between the initiator, the owner RealSeven GmbH and the financing bank.

No impact on tenants
The insolvency has no impact on everyday life at Consento Vision Park: For example, the operation of the fitness studio community called Q-lounge continues as normal. As an independent limited company, it is only a tenant, emphasizes the team around Managing Directors Michael Mayrhofer and Andreas Rabinig. Q-lounge Fitness also has a strong co-owner thanks to technosert and is on course for growth.